How Does Product Market Competition Shape Managerial Incentives? Evidence In Malaysian Listed Companies

Loh, Hui San (2016) How Does Product Market Competition Shape Managerial Incentives? Evidence In Malaysian Listed Companies. [Final Year Project Report] (Unpublished)

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Abstract

The objectives of the research study is to detennine whether product market competition (PMC) and other control variables: firm age, finn growth, and leverage influence managerial incentives of non-financial listed companies in Malaysia. The study also verifies the accuracy of managerialism, agency, and bargaining theories, which are used to explain the result of the study. The study uses 524 non-financial listed companies in Bursa Malaysia from year 2010 to 2014 as sample. After rectify the heteroscedasticity and serial correlation problems, the study is more appropriate to use panel regression and fixed-effect model, which are used to estimate the regression model of study. The result of study documents that product market competition (hereafter PMC), firm age, and leverage have significant and positive relationship with managerial incentives at 1 % significant level. Meanwhile, firm growth shows significant and negative relationship with managerial incentives at 10% significant level. The findings of the study can be used as a guidelines for policy makers in determining the appropriate level of managerial incentives of non-financial listed companies in Malaysia.

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